REPEAT: Gold Could Still Go To $1,000/oz, Oil Nations On Radar - Jim Rogers

The Federal Open Market Committee meeting conclusion is on deck and markets have priced in the first U.S. rate hike by the central bank in nine years. One veteran commodities investor turns his attention to gold and says he is not buying gold just yet as he waits for the perfect bargain. Best-selling author and one of the best known commodity investors Jim Rogers told Kitco News he’s still waiting to buy gold. As part of Kitco News’ Outlook 2016 series, where experts are asked for their forecasts for the year ahead, Rogers added, ‘I still expect lower prices.’ According to Rogers, sub-$1,000 gold is not far-fetched. ‘I don’t know if it’ll happen, but if it happens, I hope I’m smart enough to buy a lot of gold,’ he said. One of the biggest factors weighing on gold this past year has been the strengthening U.S. dollar and Rogers said he still expects it to move higher. ‘Eventually, my plan is that the dollar is going to get overvalued and I’ll have to sell my U.S. dollars, at which point I’ll have to buy gold,’ he said. Looking ahead, Rogers said he is looking towards oil-producing nations as a place to invest his money. 'If oil hits a bottom, which I suspect it will, then…[oil-producing countries], which are being decimated at the moment, will probably be great investments.’ Kitco News, December 29, 2015

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